Rent the Runway Inc (RENT): The Latest Casualty Of Increased Volatility?

Rent the Runway Inc (NASDAQ:RENT) does about 1.40M shares in volume on a normal day but saw 904929 shares change hands in Tuesday’s trading. The company now has a market cap of 82.47M USD. Its current market price is $23.23, marking an increase of 16.32% compared to the previous close of $19.97. The 52 week high reached by this stock is $58.00 whilst the lowest price level in 52 weeks is $4.46.

Rent the Runway Inc (RENT) has a 20-day trading average at $13.59 and the current price is -59.95% off the 52-week high compared with 420.85% distance from its 52-week low. The 50-day simple moving average of the closing price is $10.28 and its 200-day simple moving average is $14.15. If we look at the stock’s price movements over the week, volatility stands at 29.00%, which decreases to 21.63% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 75.61 to suggest the stock is overbought.

The consensus objective for the share price is $20.50, suggesting that the stock has a potential downside of -13.32% over the period.

Rent the Runway Inc (RENT) stock is up 52.53% over the week and 57.81% over the past month. Its price is 120.19% year-to-date and -48.83% over the past year.

To reach the target analysts have set, the stock logically needs to shrink -13.32 percent from here.

The company has a return on investment of -49.28%. The beta has a value of 0.89. Price to sales ratio is 0.28.